In this article, we discuss the latest analyst views on Coatue’s favorite 33 AI stocks.
Philippe Laffont, the billionaire chief of Coatue Management, recently made an appearance on the All-In Podcast, a business and technology podcast hosted by four venture capitalists: Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg. Laffont, who has more than $58 billion in assets under management, and oversees a 13F equity portfolio worth close to $24 billion at the end of the fourth quarter of 2024, rarely makes media appearances, as he himself admitted during his latest interview, and his appearance has sparked a frenzy of interest around his views on the latest economic situation with regards to China tariffs, artificial intelligence, and the world of venture capitalism in general.
Laffont tackled all these topics during the podcast. For further context, refer to his previous ideas regarding AI and markets that are discussed in Coatue’s 35 Most Important AI Stocks and 33 Most Important AI Companies You Should Pay Attention To, previously published on Insider Monkey. In response to a question about his thoughts on tariffs, the market in general, and the latest decision of the Fed to hold rates steady, the billionaire noted that he was surprised at how bad market sentiment seemed given how good the hard data was on the overall market. He said it was the first time his fund had seen such a large discrepancy between the sentiment and the data. He lauded the Fed for the job it had done so far.
“I actually think the economy is doing really well. We also learned two really important things. One is when the market did go down a lot, the government did budge and said we need to step in here. And the second part is the Fed did something that I thought was very clever. They basically said we’re not going to cut just to bail out the equity market, but if the market’s liquidity is no longer functioning, emphasis on liquidity, then we’ll step in to restore liquidity. And I think those two things really brought the market back up. And I think it’s more a case of a tariff correction or a tariff tantrum, but not a tariff crisis.”
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Laffont also further elaborated on his views about tariffs, artificial intelligence, and the world of semiconductors. He noted that for a lot of technology investors, the services sector had been very important, which was out of the picture, for now, with regards to tariffs. He identified two key areas of difficulty for technology firms: semis and the assembling of motherboards. He noted that in addition to base tariffs, investors should also be wary of sector tariffs as well that had proved very disruptive in the last few months. He predicted that there was a chance that at some point in the next year or two, the hullabaloo around the tariff situation was going to die down and investors would move on to other things. Laffont, in response to a question about Google, said he found some AI stocks to be a little bit too complicated.
“There’s like a lot of forces at work. But the one thing stepping out that I would think about is there was this concept of the Mag 7. And for the last two or three years, everybody is like, oh, you just need to own the Mag 7. Uh, it’s really easy. I can do it on my own. And I think what AI is showing is that at a time of great change. And like you guys said on the show, a couple of you, AI is sort of precipitating so many fast changes. To me, it’s a little bit like the end of the Mag 7. And what we should do is almost think like, hey, what is the next? Remember when the Mag 7 used to be Fang and then Fang Plus and nobody talks about Fang anymore. Uh, and now I don’t know like the Mag 7, the sexy 6, the fabulous 5. There’s going to be a new index that comes up and I think we should think about who’s going to be on the new index, which private companies, which public companies.”
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through a note on the AI industry by Coatue Management. These stocks are also popular among other hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Philippe Laffont of Coatue Management
Latest Analyst Views on Coatue’s Favorite AI Stocks
33. Fabrinet (NYSE:FN)
Number of Hedge Fund Holders: 36
Barclays analyst George Wang recently lowered the price target on Fabrinet (NYSE:FN) to $234 from $245 and kept an Equal Weight rating on the shares. Fabrinet offers optical packaging, along with precision optical, electro-mechanical, and electronic manufacturing services. In an investor note, the analyst noted that the company reported solid fiscal Q3 results, though they were overshadowed by softer Datacom despite continued Telecom strength. The advisory sensed that the 1.6T cycle timing was slightly shifted to the right or at a minimum came with great uncertainty when the cycle started.
32. Arm Holdings plc (NASDAQ:ARM)
Number of Hedge Fund Holders: 43
Loop Capital recently lowered the price target on Arm Holdings plc (NASDAQ:ARM) to $155 from $195 and kept a Buy rating on the shares after the company’s Q4 results. Arm architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers. In an investor note, the analyst noted that while revenue and design traction remained intact, the company’s guidance was slightly below Street, and Arm was holding off on a FY26 guide while also increasing its operating expense guidance to reflect ongoing growth opportunities.
31. Celestica Inc. (NYSE:CLS)
Number of Hedge Fund Holders: 44
Argus analyst Jim Kelleher recently lowered the price target on Celestica Inc. (NYSE:CLS) to $120 from $150 but kept a Buy rating on the shares after its Q1 earnings and revenue beat. CLS offers a range of product manufacturing and related supply chain services. In an investor note, the analyst noted that the company was benefiting from a portfolio diversification strategy focusing on high-growth, high-margin businesses as well as from trends in artificial intelligence and machine learning. Argus added that while shares had weakened on rotation away from companies who were participating in the generative AI revolution, the company’s demand fundamentals appeared intact and margins were expanding.
30. Digital Realty Trust, Inc. (NYSE:DLR)
Number of Hedge Fund Holders: 47
Oppenheimer recently initiated coverage of Digital Realty Trust, Inc. (NYSE:DLR) with an Outperform rating and $200 price target. Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. In an investor note, the advisory noted that Digital Realty was one of the largest and now most diversified datacenter operators with over 300 locations and capacity of 2.8GW, 5% of the global total. In Oppenheimer’s opinion, Digital Realty was well positioned as a major beneficiary of AI and cloud megatrends with strong demand driving improved volumes and pricing. High demand datacenter clusters like Northern Virginia were operating at virtually 100% utilization, and the advisory also pointed out that the stock was trading below its five-year revenue multiple and in line on AFFO, despite the accelerating growth.
29. NRG Energy, Inc. (NYSE:NRG)
Number of Hedge Fund Holders: 53
NRG Energy, Inc. (NYSE:NRG) operates as an energy and home services company in the United States and Canada. BMO Capital analyst James Thalacker recently raised the price target on the stock to $167 from $115 and kept a Market Perform rating on the shares. In an investor note, the analyst underlined that the company had announced the acquisition of a 12.9GW/6GW C&I VPP portfolio from privately held LS Power for $12.9 billion in cash, stock and assumed debt, and the advisory viewed the announcement positively given the company’s enhanced business profile, visible EPS and free cash flow accretion. BMO added that a re-rating for NRG shares rested upon management’s ability to demonstrate the revenue synergies between its traditional energy business and Vivint’s higher margin and longer customer retention model.
28. Equinix, Inc. (NASDAQ:EQIX)
Number of Hedge Fund Holders: 56
Argus recently lowered the price target on Equinix, Inc. (NASDAQ:EQIX) to $955 from $972 but kept a Buy rating on the shares. EQIX is a California-based real estate trust that operates data centers and other technology assets. In an investor note, the analyst highlighted that the stock had been volatile, reflecting Information Technology sector rotation, though the advisory continued to see positive momentum for the shares based on fundamental growth and positive momentum in the income sector. Argus added that it sees data storage business as a good investment, with strong growth prospects in the EMEA and APAC regions offsetting slower growth in North America.
27. Semtech Corporation (NASDAQ:SMTC)
Number of Hedge Fund Holders: 57
Stifel analyst Tore Svanberg recently lowered the price target on Semtech Corporation (NASDAQ:SMTC) to $35 from $54 and kept a Buy rating on the shares. SMTC develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. Tariff-impacts, including secondary and tertiary impacts, leave the advisory with an overarching view entering the Q1 earnings season for the Analog, Connectivity and Processors group to have generally in-line March quarter results, but softer June quarter outlooks. Regardless of where tariffs eventually shake out in magnitude, duration and breadth, the advisory believes the likelihood of the overall semiconductor industry tipping over into a cyclical downturn has increased materially, the analyst added in a preview note.
26. Teradyne, Inc. (NASDAQ:TER)
Number of Hedge Fund Holders: 61
Susquehanna analyst Mehdi Hosseini recently lowered the price target on Teradyne, Inc. (NASDAQ:TER) to $133 from $155 and kept a Positive rating on the shares. Teradyne designs, develops, manufactures, and sells automated test systems and robotics products globally. The advisory updated estimates following its 1Q25 beat and 2Q25 raise, though expectations already had been reduced into the report. Susquehanna’s long-term thesis and rating remain unchanged despite near-term setbacks and disappointment, and once again reduced estimates across the board and hope this cut will be the last one.
25. Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 63
Citi analyst Asiya Merchant recently raised the price target on Dell Technologies Inc. (NYSE:DELL) to $128 from $105 and kept a Buy rating on the shares as part of an earnings preview for the North America hardware group. Dell designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services. In an investor note, the analyst noted that the advisory increased estimates slightly to reflect upside revision to Citi’s US real GDP growth forecast and first half of the year PC pull forward. Looking ahead, Citi continued to see fundamental pressures on enterprise capex spending as long as tariff uncertainty loomed. The analyst thinks the companies could see pushouts and lengthening sales cycles amid rising economic uncertainty and weakening business sentiment.
24. Analog Devices, Inc. (NASDAQ:ADI)
Number of Hedge Fund Holders: 64
Oppenheimer recently raised the price target on Analog Devices, Inc. (NASDAQ:ADI) to $265 from $225 and kept an Outperform rating on the shares ahead of quarterly results. ADI designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products. The advisory saw upside to Q2 results and Q3 outlook as an overdue cyclical recovery took root. Tariff noise was easing a bit but first half of the year pull-in activity likely muted second half seasonality, in Oppenheimer’s view. The advisory viewed Analog Devices as a prime beneficiary of cyclical rebound in core auto/industrial.
23. Elastic N.V. (NYSE:ESTC)
Number of Hedge Fund Holders: 64
Barclays analyst Raimo Lenschow recently lowered the price target on Elastic N.V. (NYSE:ESTC) to $124 from $138 and kept an Overweight rating on the shares as part of a Q1 earnings preview. Elastic is a search artificial intelligence company that delivers hosted and managed solutions designed to run in hybrid, public or private clouds, and multi-cloud environments. The advisory thinks off-cycle software results will mirror the on-cycle names with solid Q1 numbers but cautious guidance. The share price moves will all be about positioning, the analyst tells investors in a research note.
22. Coherent Corp. (NYSE:COHR)
Number of Hedge Fund Holders: 71
B Riley analyst Dave Kang recently lowered the price target on Coherent Corp. (NYSE:COHR) to $77 from $95 and kept a Neutral rating on the shares following the fiscal Q3 report. COHR develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. The reduced target reflects the multiple contraction of the optical group in recent months, the analyst tells investors in a research note. The advisory also remains concerned about the upcoming co-packaged optic headwind.
21. Arista Networks, Inc. (NYSE:ANET)
Number of Hedge Fund Holders: 78
Citi recently raised the price target on Arista Networks, Inc. (NYSE:ANET) to $112 from $97 and kept a Buy rating on the shares. Arista engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments. The advisory, which expects the company to double its share in the Ethernet AI back end in FY25 and anticipates upward revisions to FY25 and FY26 estimates, believes the company is on track to achieve its $750 million AI back-end target for FY25, which would reflect nearly 20% share. The advisory’s estimates are unchanged, but it raised its multiple given Arista’s rising AI market share and higher market multiples.
20. QUALCOMM Incorporated (NASDAQ:QCOM)
Number of Hedge Fund Holders: 79
Seaport Research analyst Jay Goldberg recently initiated coverage of QUALCOMM Incorporated (NASDAQ:QCOM) with a Neutral rating and no price target. QCOM develops and sells foundational technologies for the wireless industry. In an investor note, the analyst noted that Qualcomm’s core market was not growing, and it was losing share there on multiple fronts. The analyst added that the company’s efforts to diversify beyond mobile were mixed and would all take years to materialize. Seaport saw a lack of any serious near-term catalyst for the shares.
19. Applied Materials, Inc. (NASDAQ:AMAT)
Number of Hedge Fund Holders: 80
Mizuho analyst Vijay Rakesh recently lowered the price target on Applied Materials, Inc. (NASDAQ:AMAT) to $195 from $205 and kept an Outperform rating on the shares. AMAT provides equipment, services, and software for the semiconductor industry. The company reported an in-line quarter but faces headwinds in China, the analyst tells investors in a research note.
18. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 83
Citi recently maintained a Neutral rating on Intel Corporation (NASDAQ:INTC) stock. Intel markets key technologies for smart devices. In an investor note, Citi highlighted that Mercury Research released estimates for Q1 microprocessor shipments and market share, with Q1 MPU units down 6.1% quarter-over-quarter, above seasonality of down 9.4%. Per the Mercury estimates, ARM gained market share over both AMD and Intel. Citi said ARM gained 281 basis points quarter-over-quarter and had 13.6% in MPU unit share. AMD lost 99 basis points and had 21.1% of the overall MPU unit share, while Intel lost 182 basis points and had 65.3% share.
17. Datadog, Inc. (NASDAQ:DDOG)
Number of Hedge Fund Holders: 83
BMO Capital recently lowered the price target on Datadog, Inc. (NASDAQ:DDOG) to $130 from $152 and kept an Outperform rating on the shares. DDOG provides a monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company reported a mostly solid March quarter, highlighted by a roughly 3% beat to the firm’s and Wall Street’s consensus estimates and strong AI Native contribution to ARR, the analyst tells investors in a research note. The advisory added that, consistent with its past writings, demand metrics have greater stock/multiple impact than margin and, given the weaker macro backdrop and compressed software valuations, it is lowering its price target.
16. Constellation Energy Corporation (NASDAQ:CEG)
Number of Hedge Fund Holders: 85
BMO Capital recently raised the price target on Constellation Energy Corporation (NASDAQ:CEG) to $337 from $291 and kept an Outperform rating on the shares. CEG generates and sells electricity in the United States. In a research note, the analyst highlighted that the company reported an in-line Q1, and the most important takeaway for Constellation and the broader sector was management’s discussion that they were nearing long-term agreements with customers to their available carbon-free supply.
15. Western Digital Corporation (NASDAQ:WDC)
Number of Hedge Fund Holders: 85
Argus recently lowered the price target on Western Digital Corporation (NASDAQ:WDC) to $65 from $88 and kept a Buy rating on the shares. Western Digital develops, manufactures, and sells data storage devices and solutions. In an investor note, the analyst told investors that memory and data storage demand in the enterprise and cloud markets appeared to be growing and Western Digital was positioned for solid top- and bottom-line growth across the remainder of FY25 and into FY26, though the advisory was adjusting its model to account for the SanDisk separation.
14. Amphenol Corporation (NYSE:APH)
Number of Hedge Fund Holders: 86
TD Cowen earlier this month raised the price target on Amphenol Corporation (NYSE:APH) to $70 from $63 and kept a Hold rating on the shares. Amphenol specializes in designing, manufacturing, and marketing electrical, electronic, and fiber optic connectors. The advisory said the AI ramp had been incredible, and numbers kept moving higher. At some point the quarter over quarter ramp would slow or reverse, and it would be a problem, but not now.
13. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 86
Berenberg recently lowered the price target on ASML Holding N.V. (NASDAQ:ASML) to EUR 740 from EUR 800 and kept a Buy rating on the shares. ASML makes and sells advanced semiconductor equipment systems. In an investor note, the analyst told investors that the company’s Q1 results confirmed that the semi end-market dynamic was developing as expected, and artificial intelligence continued to be the main driver of semi end market demand. Although ASML acknowledged the near-term tariff uncertainty, the company maintained its 2025 revenue guidance, and expects 2026 to be another growth year, added the advisory.
12. Vertiv Holdings Co (NYSE:VRT)
Number of Hedge Fund Holders: 92
Mizuho analyst Brett Linzey recently raised the price target on Vertiv Holdings Co (NYSE:VRT) to $125 from $115 and kept an Outperform rating on the shares. VRT designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. The advisory updated estimates in the electrical equipment and multi-industry sector post earnings. Pent-up demand in investment and capex, the reemergence of profit generation and positive portfolio shaping are common themes, the analyst tells investors in a research note.
11. Micron Technology (NASDAQ:MU)
Number of Hedge Fund Holders: 94
Morgan Stanley lowered the price target on Micron Technology (NASDAQ:MU) to $98 from $112 and kept an Equal Weight rating on the shares. Micron makes and sells memory and storage products. In an investor note, the analyst noted that checks in DRAM had turned remarkably positive in recent months and though the advisory agreed with the view that tariff pull forwards were a factor, they were not the only thing driving pricing strength. The advisory raised estimates for Micron and was now 25% above consensus for the August quarter and 15% for November EPS, but took down FY26 estimates slightly on account of potential macro headwinds.
10. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 96
Truist recently lowered the price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $111 from $130 and kept a Hold rating on the shares. AMD operates as a semiconductor manufacturer. In an investor note, the analyst noted that the company’s Q1 result was good overall, but the outlook included several complicating factors like a reduction in Q2-Q3 Datacenter Accelerator revenue from exiting the China market and an inventory write-down in Q2. Truist added that it lacked conviction in AMD’s ability to ramp MI350, MI400, and beyond, in a way that would be truly competitive.
9. Vistra Corp. (NYSE:VST)
Number of Hedge Fund Holders: 120
Evercore ISI analyst Durgesh Chopra recently lowered the price target on Vistra Corp. (NYSE:VST) to $192 from $202 and kept an Outperform rating on the shares. Vistra operates as an integrated retail electricity and power generation company. In an investor note, the analyst noted that all of the major Independent Power Producers had reported their quarterly results over the last two weeks and for the most part IPPs faired relatively well during Q1 with strong adjusted EBITDA performance. The analyst expected the positive momentum to continue across the IPP coverage throughout the year. The advisory was slightly reducing price targets for Talen Energy and Vistra, primarily due to peer multiple contraction, the analyst noted.
8. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 161
Seaport Research analyst Jay Goldberg recently initiated coverage of Broadcom Inc. (NASDAQ:AVGO) with a Buy rating and $230 price target. Broadcom supplies semiconductor infrastructure software solutions. In an investor note, the analyst noted that Broadcom was one of the leading beneficiaries of the current AI spending boom, but its prospects were not well understood by the Street and not priced into the stock. Any time Nvidia loses share today it is to hyperscalers’ internal chip designs and Broadcom is poised to make a lot of money helping them bring those chips to production.
7. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 166
Wedbush analyst Daniel Ives believes Outperform-rated Apple Inc. (NASDAQ:AAPL) has put itself in a very hedged supply chain strategy heading into iPhone 17 production this Fall. Apple is a consumer electronics firm. All of the advisory’s work in the supply chain throughout Asia over the past few weeks gives it a high level of confidence that Cupertino’s aggressive push towards India production has been a very smart strategic move given the uncertain tariff environment facing Apple in China. Wedbush thinks Apple could ramp iPhone assembly production in India up to 60%-65% by the Fall in a best-case scenario but could easily pivot back to a China driven iPhone strategy depending on the tariff situation and deal negotiations. The advisory fully expects more pressure from the Trump Administration on Apple to build iPhone production in the US, but this would result in an iPhone price point that is a non-starter for the company and translate into iPhone prices of $3,500 if it was made in the US and this would take many years.
6. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 174
Evercore ISI recently reiterated an Outperform rating and $205 price target on Alphabet Inc. (NASDAQ:GOOG) shares. Alphabet is a technology company that owns and runs the internet search engine Google. In an investor note, the analyst noted that Alphabet shares had traded down following reports that Apple Senior VP of Services Eddy Cue testified that Search volumes in Apple’s Safari browser fell for the first time in April and that Apple was actively exploring adding AI Search capabilities to its browser, potentially adding partners like Perplexity and Anthropic. The selloff put shares of Google’s parent down a total of 26% since an early February peak, noted the analyst, who will take the other side and be buyers of this correction. Later in the day, Google issued a statement saying: We continue to see overall query growth in Search. That includes an increase in total queries coming from Apple’s devices and platforms, notes Evercore. It is plausible that Cue’s statement reflects both a very mature low-single digit percentage Search query growth rate and Apple Safari browser share losses, as tracked by statcounter, added the analyst.
5. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 186
Barclays analyst Simon Coles recently lowered the price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to $215 from $255 and kept an Overweight rating on the shares. TSM makes and sells integrated circuits and semiconductors. The advisory believes TSMC shares are already pricing in a slowdown and thus look increasingly attractive, the analyst tells investors in a research note. The advisory says the company’s fiscal 2025 guidance was maintained which implies some slowdown in the second half of the year, which makes sense.
4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 223
Bank of America recently raised the price target on NVIDIA Corporation (NASDAQ:NVDA) to $160 from $150 and kept a Buy rating on the shares after Nvidia and AMD separately announced multi-year AI infrastructure projects with HUMAIN, a subsidiary of the Saudi Arabia Public Investment Fund. NVDA provides graphics, computing and networking solutions. In an investor note, the analyst noted that the advisory, which sizes the projects to be likely around $3 billion – $5 billion annually, or $15 billion – $20 billion over a multi-year period, thinks sovereign AI could help address limited power availability for data centers in the US, plus offset headwinds from restrictions on US companies shipping to China.
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 262
Loop Capital analyst Rob Sanderson recently raised the price target on Meta Platforms, Inc. (NASDAQ:META) to $888 from $695 and keeps a Buy rating on the shares. Meta engages in the development of products that enable people to connect and share with friends and family. The analyst cited the company’s better than expected 2Q outlook and noted that its expectation that a drop in spending intensity from China-based advertisers would flatten revenue growth was a misread. Per Loop, Meta remained the best non-hardware example of tangible, right-now beneficiary of AI and the stock would outperform the Mag-7 peer group this year.
2. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 317
Citi recently raised the price target on Microsoft Corporation (NASDAQ:MSFT) to $540 from $480 and kept a Buy rating on the shares. Microsoft is a technology company. Citi updated Microsoft’s model following reports this week of a 3% workforce reduction and post the company’s strong fiscal Q3 results. Management commentary has remained confident on the demand environment and investment cycle, the analyst told investors in a research note. This gives Citi confidence to raise the Azure growth trajectory back to 35% year-over-year in Q4. Citi estimates the latest workforce reduction can help generate incremental net savings upwards of $1 billion into fiscal 2026 to help offset the incremental depreciation and spending.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 339
Tigress Financial recently raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) to $305 from $290 and kept a Buy rating on the shares following the Q1 report. Amazon operates as a technology conglomerate with core interests in the ecommerce business. In an investor note, the analyst noted that Amazon remains well positioned to weather any economic and consumer spending environment given its robust e-commerce and fulfillment capabilities. The company continued to lean into artificial intelligence integration and innovation to drive revenue, cash flow growth and increasing shareholder value, the analyst added.
While we acknowledge the potential of AMZN, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 33 Most Important AI Companies You Should Pay Attention To and 30 Best AI Stocks to Buy According to Billionaires.
Disclosure: None.
